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JSW Steel Rallies, HFCL Secures Army Deal, Tata Power Expands in Renewables
JSW Steel Rallies, HFCL Secures Army Deal, Tata Power Expands in Renewables
Written by - Fisdom Research
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March 10, 2025
2 minutes
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Market Snapshot
Indian equity indices ended on a negative note, with the Nifty closing around 22,450 in a volatile session.
Broad-based selling was witnessed across sectors, with only the FMCG sector managing to stay in the green.
Realty and PSU Banks were the biggest laggards, dragging the market lower.
The broader markets underperformed, as Mid and Smallcap indices declined over 1.50%.
Sectoral indices saw widespread losses, with Auto, Consumer Durables, Metal, Capital Goods, Oil & Gas, Realty, and PSU Banks falling 1-2%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
0.2
NIFTY BANK
-0.6
NIFTY MEDIA
-0.3
NIFTY PRIVATE BANK
-0.6
NIFTY FINANCIAL SERVICES
-0.3
NIFTY PHARMA
-0.6
NIFTY IT
-0.5
NIFTY HEALTHCARE INDEX
-0.6
Top News
JSW Steel rose 2% to a four-month high of ₹1,032.75 after reporting a 12% YoY increase in consolidated crude steel production for February 2025, reaching 24.07 lakh tonnes, with plans to expand total capacity to 43.5 MTPA in the next three years.
HFCL shares surged after its subsidiary HTL secured a ₹44.36 crore contract from the Indian Army to supply tactical optical fiber cable assemblies designed for extreme military conditions.
Tata Power gained 2% after its subsidiary, Tata Power Renewable Energy, signed an MoU with the Andhra Pradesh government to develop 7,000 MW of renewable energy projects with an estimated investment of ₹49,000 crore..
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
POWERGRID
3.0
ONGC
-4.1
HINDUNILVR
1.9
TRENT
-4.1
INFY
0.8
INDUSINDBK
-3.7
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
22,200
22,700
Bank Nifty
47,800
48,800
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